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Updated over 8 years ago,
Looking for comments on how to obtain a Solo 401(k) plan
After comparing IRA LLC and Solo 401(k), I feel that Solo 401(k) is a better option to me. Since I dont' have a small business yet, my first thought to obtain a Solo 401(k) is as follows:
- Open an LLC to have a part time small business;
- Rollover my current IRA to a Solo 401(k) plan.
Both the LLC and the Solo 401(k) will be focused on real estate investment. Do you think it is a viable path to get a Solo 401(k) plan this way? I wish I can do both simultaneously, and would like to hear your opinions... Thanks!